What type of payment method due I use??? when a pfd letter is sent

[Anonymous]

If the CA agrees to the PFD agreement, what type of payment method should I use?

[Anonymous]

I'm kinda new to this whole thing but from what I've been reading a cashiers check.  Its certified funds and therefore there there should be no excuse that the company must wait for a check to clear etc.. It should get the item removed off your credit report sooner.

[haulingthescoreup]

A lot of other posters have written on the back of their checks something on the order of: "the deposit of this check constitutes agreement that this debt is paid in full, and that all references to the existence of this account shall be forever removed from credit reporting agencies," or some such.

That is NOT the exact language used, so please do not use that wording! This is just the version that is stuck in my head. Type PFA check or something similar in the search box on this page and see what comes up. Don't know if it would hold up in court, but a lot of people seem to believe in it.

[Anonymous]

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caligirlonherway1 wrote:
If the CA agrees to the PFD agreement, what type of payment method should I use?

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Some have given checking account info to CA......NEVER NEVER do that!!!!!

A certified check (cashier) is best....you can write on the back about all reporting to CRA to cease as a condition to cashing the check.

Many have just send reg. personal checks.  I think they are more ept to accept terms of PFD if you tell them that you will send cret.check .

Message Edited by HappyDays on 10-07-2007 03:46 PM

[Anonymous]

thanks I tried to look up the PFA and couldnt find it on the website do you know what these letters actually mean??? thanks

[Anonymous]

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haulingthescoreup wrote:

A lot of other posters have written on the back of their checks something on the order of: "the deposit of this check constitutes agreement that this debt is paid in full, and that all references to the existence of this account shall be forever removed from credit reporting agencies," or some such.

That is NOT the exact language used, so please do not use that wording! This is just the version that is stuck in my head. Type PFA check or something similar in the search box on this page and see what comes up. Don't know if it would hold up in court, but a lot of people seem to believe in it.

It's called a restrictive endorsement, and yes people do it, but no, it wouldn't hold up in court.  Think about it: if you wrote on the back of your next mortgage payment "if you cash this check then my mortgage is paid in full" do you think your 30-year mortgage would disappear???  Instead, get a written signed agreement from the creditor on their letterhead before you pay.  Good luck!

[haulingthescoreup]

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caligirlonherway1 wrote:
thanks I tried to look up the PFA and couldnt find it on the website do you know what these letters actually mean??? thanks

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I'm so sorry, my fingers were out of control yesterday. I meant to type PFD --pay for delete. I typed in PFD back check in the search box and got this hit:

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=47373&query.id=101...

Don't know why it's showing on two lines on my screen, but copy/ past both as one and plunk it in a browser wiindow. This should get you to one of the strings, but I think I've seen it on others as well. Sorry for the typo!